Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Delfingen Industry S.A. (ALDEL.PA)

Company Dividend Discount ModelIndustry: Auto - PartsSector: Consumer Cyclical

Valuation Snapshot

Stable Growth$274.77 - $599.33$561.66
Multi-Stage$90.37 - $98.92$94.56
Blended Fair Value$328.11
Current Price$23.20
Upside1,314.28%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS16.92%17.36%1.150.641.130.380.000.530.870.540.470.35
YoY Growth--78.96%-43.33%195.20%0.00%-100.00%-39.43%61.57%13.82%33.99%51.99%
Dividend Yield--7.81%1.30%2.54%0.80%0.00%2.66%4.57%1.33%1.58%1.82%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)7.86
(-) Cash Dividends Paid (M)2.99
(=) Cash Retained (M)4.87
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)1.570.980.59
Cash Retained (M)4.874.874.87
(-) Cash Required (M)-1.57-0.98-0.59
(=) Excess Retained (M)3.293.884.28
(/) Shares Outstanding (M)2.612.612.61
(=) Excess Retained per Share1.261.491.64
LTM Dividend per Share1.151.151.15
(+) Excess Retained per Share1.261.491.64
(=) Adjusted Dividend2.412.642.79
WACC / Discount Rate6.43%6.43%6.43%
Growth Rate5.50%6.50%7.50%
Fair Value$274.77$561.66$599.33
Upside / Downside1,084.35%2,320.95%2,483.32%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)7.868.378.919.4910.1110.7711.09
Payout Ratio38.10%48.48%58.86%69.24%79.62%90.00%92.50%
Projected Dividends (M)2.994.065.256.578.059.6910.26

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.43%6.43%6.43%
Growth Rate5.50%6.50%7.50%
Year 1 PV (M)3.783.813.85
Year 2 PV (M)4.554.634.72
Year 3 PV (M)5.305.455.61
Year 4 PV (M)6.046.276.51
Year 5 PV (M)6.777.107.44
PV of Terminal Value (M)209.23219.34229.83
Equity Value (M)235.67246.61257.96
Shares Outstanding (M)2.612.612.61
Fair Value$90.37$94.56$98.92
Upside / Downside289.52%307.60%326.36%

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